The overall gas circuit breaker market worldwide was valued at US$ 600.5 Mn in 2018 and is set to grow with a CAGR of 5.0% during the forecast period.
Market Insights
Gas circuit breaker are largely being used as alternative for fuses, oil circuit breaker and many such conventional methods. The advantages associated with gas circuit breaker makes it a reliable alternative to maintain the energy transmission in industrial, commercial, and residential sectors. Currently, gas circuit breaker is increasingly being adopted in high voltage applications. This adoption is primarily increasing due to rapid urbanization and industrialization in developed as well as emerging countries. In addition, there has been development of hybrid gas breakers that are produced to diminish the environmental impact of SF6. These factors are expected to fuel the growth of gas circuit breaker market during the forecast period.
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Furthermore, in order to ensure smooth flow of current and avoid any destruction, governments across the globe are investing in power transmission and distribution areas. Also, numerous investment activities are being conducted to develop the poor infrastructure to reduce the number of electric interruptions. Furthermore, increasing penetration of advanced technologies is also driving the growth of this market. However, lack of standardization, low rate of replacement, high cost of gas circuit breakers, and availability of alternatives such as vacuum circuit breakers are some of the factors restraining the growth of the market during the forecast period.
Based on configuration type, the gas circuit breaker market is segmented into single interrupter, two interrupter, and four interrupter. The single interrupter is the leading market segment holding a highest market share in the global market. Furthermore, based on end user, the industrial sector dominated the market by holding more than 55% of the total market. Growing investment in advanced technologies, and rapid industrialization are the primary factors attributed to this high market share. However, commercial sector is likely to experience a significant growth during the forecast period.
Some of the prominent players operating in the gas circuit breaker market include General Electric, ABB Group, Toshiba Corporation, Nissin Electric Co., Ltd., Siemens AG, Hyosung Corporation, Schneider Electric SE, Kirloskar Electric Company Ltd., Hitachi Ltd., CG Power and Industrial Solutions Limited, HICO America, and Fuji Electric Co., Ltd.
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Industrial End User Segment Dominated the Global Market
Based on end user, the gas circuit breaker market is segmented into residential, commercial, and industrial sectors. In 2018, industrial sector dominated the market by holding more than 55% of the total market. Rapid industrialization, adoption of advanced technologies in various industries, and increasing penetration of gas circuit breakers in industrial divisions are the primary factors attributed to this high market share. However, commercial sector is likely to experience a significant growth during the forecast period. This segment is projected to witness a growth of over 6.5% from 2019 to 2027.
Asia-pacific To Witness a Fastest Growth in the Market by Region
In 2018, the North American gas circuit breaker market was registered to be around $100 Mn. Asia-Pacific is projected to witness a noteworthy growth during the forecast period based on significant development in the industrial sector in various emerging countries. In addition, increasing investment and development of power sector, expanding urbanization, economic growth, and development of infrastructure to maintain the progression are some of the factors contributing the growth of gas circuit breaker market in this region. Furthermore, expansion of various key international players are also fueling the growth of this market during the forecast period.
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